PGA Tour and LIV Agree to Merger

[WhereistheDove?]

If they have the exclusive rights to make further investments into the new entity and refuse any future investments, whether they own a majority now or not, they are the ones in the drivers seat.

That screen shot was from an article on CBS sports. If it’s accurate, then they can just issue more equity to themselves anytime they want to become the majority stakeholder.

I don’t think you’re reading that correctly. PIF has exclusive rights to make future investments but I don’t believe that’s a unilateral right. Said differently, they would likely still need the board of this new entity to sign off on the issuance of additional equity, a board which they do not control.

 

[martyn]

It was before too though. They sponsor a tour in China - a little too late in ending your interest

See if you can discern a difference between sponsoring their own tour and sponsoring or being sponsored by China.

 

[Vuce]

See if you can discern a difference between sponsoring their own tour and sponsoring China.

Why is the PGA sponsoring a tour in a country with a LONG history of human rights abuses? China benefits from it and the PGA didn’t care because they make money on it

 

[Umami Zen]

Been listening to PGA Tour Radio on Sirius since this AM.. I am not an attorney nor have I read Monahan's press release.. But it was read.. word-for word-- on PGA Tour Radio while I was listening.. It appeared to me that PIF had a place on the Board.. But the prevailing influence/majority on the Board would continue to be PGA elected officials.

I could see where PIF may want to influence how their 2024 and beyond investments may be deployed as per the mission statement of this new entity to "grow golf internationally".. But in a limited/targeted way.

The way I see it.. It was inevitable that some sort of collaboration/merger would happen..Just happened quicker than I thought it would.. This blending of organizations is just starting.. Very fluid.. And still in its infancy.. And I'm sure that Monahan has some explaining to do to his constituency/employer.. Just the beginning of the negotiation.. The legal fees/damages that were escalating on the outstanding suits were going to impact both parties in a substantial way--created the backdrop for this magical golf outing between Monahan and his PIF sidekick in London.

Edit: My political/moral/ethical preferences will not impact this deal moving forward. I do have strong opinions about this partnership but I'll leave that to others to debate.

 

[uconngb]

Been listening to PGA Tour Radio on Sirius since this AM.. I am not an attorney nor have I read Monahan's press release.. But it was read.. word-for word-- on PGA Tour Radio while I was listening.. It appeared to me that PIF had a place on the Board.. But the prevailing influence/majority on the Board would continue to be PGA elected officials.

I could see where PIF may want to influence how their 2024 and beyond investments may be deployed as per the mission statement of this new entity to "grow golf internationally".. But in a limited/targeted way.

The way I see it.. It was inevitable that some sort of collaboration/merger would happen..Just happened quicker than I thought it would.. This blending of organizations is just starting.. Very fluid.. And still in its infancy.. And I'm sure that Monahan has some explaining to do to his constituency/employer.. Just the beginning of the negotiation.. The legal fees/damages that were escalating on the outstanding suits were going to impact both parties in a substantial way--created the backdrop for this magical golf outing between Monahan and his PIF sidekick in London.

Edit: My political/moral/ethical preferences will not impact this deal moving forward. I do have strong opinions about this partnership but I'll leave that to others to debate.

I'm sure all the parties actually involved are breathing a sigh of relief that your personal preferences will not impact this deal

 

[Chin Diesel]

Monahan used Rory to run cover for him for a year and just left Rory hanging.

Rory got played.

 

[mauconnfan]

Rory, Rahm all of them got taken to the cleaners. They turned down MILLIONS to be loyal to Jay and the tour. They took the podium for him and the tour, crucified LIV. And now what? They lost a lot of money to have the LIV players play with them now with all kinds of cash already in their pockets. Not that Rory or Rahm don't make a lot, but another 200-250K to play there would've been fine now!

What a load of crap!

 

[superjohn]

Monahan used Rory to run cover for him for a year and just left Rory hanging.

Rory got played.

Well there was certainly one guy who called it.

 

[polycom]

I just don't see how a company with $600B AUM even if the press release says they don't have a controlling interest, wouldn't buy their way to a controlling interest when it suits their needs.

 

[Umami Zen]

I'm sure all the parties actually involved are breathing a sigh of relief that your personal preferences will not impact this deal

Agree.. To me its more about being a US citizen with a conscience than golf or money.. PIF was just playing poker with the PGA.. They were all in ..

 

[Blakeon18]

Question: the PGA players went to the LIV tour for big bucks...essentially providing
their services [playing golf] for the Saudi government.

How does that transaction compare to the U.S.Government partnering with Saudi Arabia
for decades...selling billions of dollars worth of high tech weaponry to the same
government?

Both wrong....both right....one worse/better than the other?

 

[Hi-Low]

Watson’s captaincy at the 2014 Ryder Cup was a complete debacle — everyone on the us team was pissed at Watson. Should Phil have called him out publically - maybe , maybe not, but Phil spoke for every player on the team.

You don't kick dirt on a legend like Tom Watson the way Phil did...showed zero respect and came off as a total loser cry baby. True that old school Watson didn't mesh with the new breed of entitled players but Phil's comments were way over the top. Phil is about Phil's bank account.

 

[Duncan Idaho]

Rich Lerner of the Golf Channel reported he spoke with LIV Golf player financial rep. The rep said that he thought the PGA held the upper hand but the PGA was hemorrhaging money from covid tourney payouts sans spectators from its rainy-day fund, huge attorney fees and much higher purses. The PIF took advantage of this weakness, backed by its resources even without favorable media fees. The PGA needed the cash.

 

[EROCK CONN]

You don't kick dirt on a legend like Tom Watson the way Phil did...showed zero respect and came off as a total loser cry baby. True that old school Watson didn't mesh with the new breed of entitled players but Phil's comments were way over the top. Phil is about Phil's bank account.

I disagree - I think anyone has the right to be critical of anyone else when they screw up - which Watson obviously did. The players also don’t make any money from the Ryder Cup. Watsons approach to captaining the ryder cup team was a debacle and that’s a near universally accepted opinion.

 

[wingsfan055]

If I was tiger or Rory, I would protest the US Open in 2 weeks. Get Jordan, Justin, Rahm to join them. Getting top world players to sit out would shake things up.
.

 

[nomar]

Question: the PGA players went to the LIV tour for big bucks...essentially providing
their services [playing golf] for the Saudi government.

How does that transaction compare to the U.S.Government partnering with Saudi Arabia
for decades...selling billions of dollars worth of high tech weaponry to the same
government?

Both wrong....both right....one worse/better than the other?

I take the point and I’m not defending anything, but it does seem to me that this is just so … voluntary.

 

[huskyfan224]

They should’ve listened to Donny last year

 

[UConnDad]

Why watch this now. Don’t need it.

 

[Scoe]

A bunch of hypocrites, who didn’t see this coming.

 

[Scoe]

Why watch this now. Don’t need it.

You will still watch.

 

[HooperScooper]

Well there was certainly one guy who called it.

What do they say about a blind squirrel?

 

[polycom]

If I was tiger or Rory, I would protest the US Open in 2 weeks. Get Jordan, Justin, Rahm to join them. Getting top world players to sit out would shake things up.
.

The PIF will pay off the top players and everyone falls in line…Money is the only thing that matters at this level.

 

[uconnfan68]

If I was tiger or Rory, I would protest the US Open in 2 weeks. Get Jordan, Justin, Rahm to join them. Getting top world players to sit out would shake things up.
.

USGA event, not a PGA event. They’ll wait for the Travelers.

 

[El Obrero]

Golf is my second favorite sport to watch on TV, behind college basketball. And if my following the PGA tour in any way supports the bloodstained Saudi Arabian dictatorship, I will never watch it again.

 

[El Obrero]

Golf is my second favorite sport to watch on TV, behind college basketball. And if my following the PGA tour in any way supports the bloodstained Saudi Arabian dictatorship, I will never watch it again…
By the way, if you agree with these sentiments, you should say so on this forum, because you can be sure that the amoral capitalists are monitoring public opinion about this.